Exploration Contract Wins

RNS Number : 6721R

Capital Drilling Limited

18 June 2018

 

For Immediate Release

18 June 2018

Capital Drilling Limited

("Capital Drilling", the "Group" or the "Company")

Exploration Contract Wins

Capital Drilling Limited (CAPD:LN), a leading drilling solutions company focused on the African markets, is pleased to announce that it has been successfully awarded the following exploration and delineation drilling contracts:

Aton Resources Inc.: Egypt

Capital Drilling has been awarded an exploration drilling contract at the Rodruin, Hamama & Abu Marawat projects in Egypt. The contract will utilise one reverse circulation (RC) rig for 15,000 metres of drilling, which will be carried out during Q3 2018. Capital Drilling previously drilled for Aton Resources in 2017.

Graphex Mining Limited: Tanzania

Capital Drilling has been awarded a delineation drilling contract at the Chilalo Graphite Project in Tanzania. The contract will utilise one rig for approximately 3,000 metres of diamond core drilling, which will be carried out during Q3 2018. Capital Drilling previously drilled at Chilalo in 2015.

De Beers Holdings: Botswana

Capital Drilling has been awarded a delineation drilling contract at the Kokong project in Botswana. The contract will utilise two rigs for 11,000 metres of diamond core drilling and will be carried out over H2 2018.

Commenting on the contract wins, Jamie Boyton, Executive Chairman said:

"We are pleased to announce a number of successful exploration and delineation contract awards that will be carried over H2 2018. All three contract awards are in existing countries of operation for Capital Drilling, allowing us to leverage our infrastructure and assets already in country. The last few months have seen an increase in demand for exploration rigs, which will benefit Capital Drilling's utilisation rates from this segment of the market".

For further information, please visit Capital Drilling's website www.capdrill.com or contact:

Capital Drilling Limited                                                                     [phone]

Jamie Boyton, Executive Chairman                                                [e-mail]

André Koekemoer, Chief Financial Officer

finnCap Ltd                                                                                          [phone]

Christopher Raggett, Corporate Finance

Andrew Burdis, Corporate Broking

Tamesis Partners LLP                                                                        [phone]

Charlie Bendon

Richard Greenfield

Buchanan                                                                                             [phone]

Bobby Morse                                                                                      [e-mail] 

Gemma Mostyn-Owen

About Capital Drilling

Capital Drilling provides specialised drilling services to mineral exploration and mining companies in emerging and developing markets, for exploration, development and production stage projects. The Company currently owns and operates a fleet of 95 drilling rigs with established operations in Botswana, Côte d'Ivoire, Egypt, Ghana, Kenya, Mali, Mauritania and Tanzania. The Group's corporate headquarters are in Mauritius.

 

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